**Former Head of Bidzina Ivanishvili’s Fund Sentenced to 11 Years in Prison**
A court in Tbilisi has sentenced Giorgi Bachiashvili, the former head of a co-investment fund controlled by billionaire Bidzina Ivanishvili, to 11 years in prison. The sentence was handed down on March 10.
Bachiashvili was found guilty of misappropriating cryptocurrency and laundering money. He is also facing charges related to his work on a hydroelectric power plant project and for allegedly crossing the country‘s border without permission.
**Background**
The case against Bachiashvili began in 2015 when he and an investor partnered on a Bitcoin mining operation. However, it was alleged that Bachiashvili kept most of the profits for himself, despite his agreement to share them with the other investor.
Bachiashvili has claimed that he is being persecuted by Ivanishvili and the Georgian government. He has accused Ivanishvili of orchestrating a campaign against him and has said that he had to flee the country to avoid danger.
**Troubled History**
This is not Bachiashvili’s first run-in with the law. In 2023, he was charged with embezzling bitcoins and ordered to pay bail while being barred from leaving Georgia. His lawyers have denied any wrongdoing, saying that the case is “frivolous” and “politically motivated”.
The court proceedings in this case were held in closed sessions due to their sensitive nature.
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